Algiers: South Africa and Algeria have agreed to establish trade routes to improve bilateral trade and market access between the two countries. This follows a meeting between Trade, Industry and Competition Minister, Parks Tau, and Algerian Minister of Foreign Trade and Export Promotion, Kamal Rezig, held in Algeria over the weekend.
According to South African Government News Agency, the meeting discussed the implementation of the Memorandum of Understanding (MoU) on Economic Cooperation, signed in December 2024 during the Bi-National Commission between Algeria and South Africa. The agreement covers cooperation in trade, industrial development, and infrastructure development.
Tau emphasized that the MoU serves as "an umbrella instrument from which all other bilateral economic agreements on trade and investment-related matters draw their specific individual mandates." He also proposed the establishment of the Joint Trade and Investment Committee as a platform for the two parties to meet regularly to enable trade and investment facilitation.
Tau highlighted South Africa's commitment to continental integration and its partnership with Algeria and other African nations in building a resilient, inclusive, and innovation-driven economy. He and Rezig agreed to explore opportunities in each other's markets, focusing on cooperation in oil and gas, automotive, infrastructure development, pharmaceuticals, manufacturing, aviation, agriculture, and agro-processing.
During the visit, Tau also met with Algerian Acting Prime Minister, Sifi Ghrieb, to discuss the importance of establishing a business council. This council is expected to fast-track trade and enhance collaboration by sharing technical expertise in strategic sectors. The discussions also covered the re-instatement of the South Africa-Algeria air route, intended to facilitate people-to-people and commercial relations between the two countries.